Morrison County receives hefty dividend
By JENNIE ZEITLER
As a member of the Minnesota Counties Intergovernmental Trust (MCIT), Morrison County will receive a dividend of $280,183.
MCIT is an organization allowing counties to self-insure workers compensation and property/liability insurance through a pooling arrangement. It was created in 1985 when insurance for counties was unavailable or not cost effective. Currently 83 of Minnesota’s 87 counties participate. MCIT is sponsored by the Association of Minnesota Counties.
MCIT is a non-profit entity which has stabilized insurance costs for the counties. The dividend is possible due to better-than-expected performance results.
The total dividend MCIT declared to its member counties in 2012 was $29.9 million. This is the 22nd year that MCIT has returned a dividend.
“There is no guarantee of a dividend,” said County Administrator Deb Gruber. “It depends on how business is going.”